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Kyckr to see first revenues from Bloomberg deal early 2018

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By Filip Karinja - 
Kyckr KYK ASX first revenues Bloomberg deal 2018
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Regulatory technology company Kyckr Limited (ASX: KYK) has confirmed that the launch of its services by Bloomberg remains on schedule for late October to early November 2017.

Key Highlights:

  • Kyckr remains on-track to generate first Bloomberg revenues in Q2 FY18.
  • Integration of Kyckr’s technology into Bloomberg’s offering is nearly complete, and will be ready well ahead of its commercial launch due in October / November 2017.
  • Services for Kyckr’s first Australian Financial Institution customer commenced in September.

Since signing a partnership agreement in July, Kyckr has worked closely with Bloomberg to integrate its services into Bloomberg and provide marketing collateral to support the sale of Kyckr’s capabilities as part of Bloomberg’s compliance service offering.

The integration of Kyckr’s technology is almost complete, with more than sufficient time for its launch in Q2. The launch will herald the start of revenue and cashflow generation for Kyckr under its multi-year partnership with Bloomberg.

Furthermore, the company has now commenced the provision of services to its first Australian Financial Institution client.

David Cassidy, Managing Director of Kyckr said:

“Confirmation of the Bloomberg go live date, means we can now expect revenue and cashflow to engage for this global aggregator in Q2.

In our view, Bloomberg is the pre-eminent global aggregator, taking us to the global banking market where a significant part of the 120m+ companies in the world require compliance by their end users.

The validation of Bloomberg as a customer makes every discussion with future prospects easier.”

About Kyckr

Kyckr is a global regulatory technology (RegTech) business, providing technology solutions to help protect against money laundering, fraud and tax evasion.

Kyckr’s solutions are connected to over 180 regulated primary sources, in over 120 countries, providing real-time company registry information on over an estimated 80 million businesses globally.

Kyckr provides an automated technology solution to maintain up to date critical company identity information, in place of the traditional error and fraud prone manual people based processes.